Kodak Said to Arrange Financing for Bankruptcy Emergence

Eastman Kodak Co., the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations. Funding is conditional on selling its patent portfolio for at least $500 million, progress in the sale of two business units and the resolution of the U.K. pension obligations.

A group of second-lien noteholders separately said in a court filing today that they have lost faith in management, claiming the company’s ability to successfully restructure and exit bankruptcy has been jeopardized.